Recently, Prime Minister Narendra Modi, after consulting with a delegation of Bollywood actors and filmmakers, took the decision to reduce the GST on movie tickets. Following the GST reduction, the latest GST on movie tickets will be 18% and 12% as against 28% and 18% for tickets above MRP of Rs 150 and Rs 100 respectively.
Joining a long list of Bollywood stars, various bodies of the Telugu film industry have collectively thanked Narendra Modi and the union government for reducing the GST and relieving moviegoers from high rates. The new GST on movie tickets will come into effect from January 1, 2019. The union government is estimated to lose around Rs 900 crores per year due to the latest GST reduction.
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